Are there any mortgage advisors on here?

[andyb]

I'm a first time buyer looking for some basic advice from someone who won't try to pull the wool over my eyes. Just simple stuff like how long do you have to have been in your current job (I know companies will be different but just an idea)and an idea of what to look for when comparing mortgages apart from set-up fee and interest rates.

Cheers

[Dave20046]

jimmy2feet I think I read was.

set up fee/ booking fee, rates (exit fee!) - any stupid small print. London & country mortgages are supposed to be good, give them your info and they'll determine your credit rating and do a bit of mortgage shopping for you (supposedly free). moneyexpert forums/website will help you too.

[dizzyblonde]

Always tell a mortgage company you are risk averse ;)

And if you can, always go for a repayment one.
I've owned my own home since I was 23 as a single mortgage payer , I'm now 34. I've certainly had to work them to my advantage

[The Idle Biker]

I'm not sure of your location but if you are reasonably local to these guys I'd absolutely recommend them to you (and anyone else). Even if your not local, they will help over the phone. Been taking financial advice from these guys for years, small company - 4 man team, independant. I've no patience to wade through mortgage mire and they've saved us loads over the years.
Robert Goodman Associates in Harefield, Middlesex. Good luck whatever way you go.

[Bri w]

http://www.northernrock.co.uk/Mortgages/Learn/First-Time-Buyer

Northern Rock have just started doing 90% mortgages again, which might give you a little more scope.

Also, give me a bell, I have the number for a guy who lives a couple of miles from you. Not sure if he's still doing it but I know his mate is.

[Dave20046]

http://www.northernrock.co.uk/Mortgages/Learn/First-Time-Buyer

Northern Rock have just started doing 90% mortgages again, which might give you a little more scope.

Also, give me a bell, I have the number for a guy who lives a couple of miles from you. Not sure if he's still doing it but I know his mate is.

Remind me why they went under again? lol

[dizzyblonde]

Remind me why they went under again? lol


They haven't been the only ones to offer 90% mortgages. I got my house with a 90% mortgage from the Abbey, but those were the days when you could put a 1500 quid deposit on a house!

[Dave20046]

They haven't been the only ones to offer 90% mortgages. I got my house with a 90% mortgage from the Abbey, but those were the days when you could put a 1500 quid deposit on a house!

I know but they made stupid loans and went under...and they're now (one of?) the first to start offering 90% mortgages again...hmmm - well I guess they've been told they have to lend more now they're owned by the tax payer.

[Quedos]

I like NR - they gave me my first mortagage too and it was just over 100%
(and b4 you rant Dave the full total was £30k and that included a £2k budget for decoration)

I would try and find an independent broker - I've always used First mortagage shop up here and they have never failed me.

[WeegieBlue]

Just be careful of broker fees. Some brokers will charge a fee once the mortgage has been accepted, regardless of whether you buy a house or not. Others will charge a fee on completion.

I'd suggest you try your bank as a starting point. They have all your info already and they're free. Just don't sign anything til you've shopped around, and definitely DEFINITELY don't take their life cover, critical illness cover etc. You will always get that cheaper on the open market than you will in a branch.

I was a mortgage advisor for 3 years, back when Northern Rock did 125% mortgages for first time buyers - ah, the good old days!!

[andyb]

Thanks for the info, I'll get onto it this weekend :)

[maviczap]

Download moneysaving experts free first time mortage guide

http://www.moneysavingexpert.com/mortgages/mortgage-guide

My colleague had a NR mortgage and is considering another one for his next purchase

[thefallenangel]

Check first off the rate they offer you and your fee for the mortgage.

Stupid said bint in Halifax wanted me to take a mortgage with 0.2% better rate for £995 instead of £495 to save me £180.

I went for a short mortgage term because i was nearing the end of my apprenticeship and have more money now so i want to go for a better deal. Thought about buying new with shared equity? I did and made my house a lot more appealing.

Try Nationwide, Halifax as they seem to be doing good deals but banks want everything these days (Current, Credit and Mortgage) which will help get a better rate (0.2% off with halifax and i got £100 for swapping accounts).

Walk into each bank tell them your financial situation and see what they say.